How SpaceX’s 18,712 bitcoin holding could rewrite corporate crypto adoption

SpaceX debuted on Wall Street with a 19.2% surge, reaching a $2.1 trillion valuation. The company disclosed holding 18,712 bitcoins worth approximately $1.29 billion as a strategic cash reserve, making it the eighth-largest corporate bitcoin holder and attaching the largest bitcoin position ever to an IPO. As a public company, SpaceX will now mark-to-market its bitcoin holdings quarterly, setting a precedent for treating crypto as a long-term corporate reserve asset.